Mobile content firm bang on target for Aim
MOBILE phone marketing company Bango is planning to take advantage of the current boom in the mobile content market by seeking an Aim listing.
The company, which helps businesses sell products to customers accessing the internet via their mobile, wants to raise £5m through a listing before the end of the month. The listing will value the firm at between £25m and £35m.
The listing will enable it to raise its profile with trade partners and attract new customers in Europe, in addition to improving its ability to attract key staff.
The company counts The Sun, Camelot, Maxim magazine and Channel 4 as customers and generated revenues of £3.4m for the 12 months to 31 March, a 68% increase on last year. It says it has over 7,000 content providers and can potentially reach 22m worldwide customers.
Content providers and brand owners pay a one-off monthly fee to the company for enabling end users to access their content. Bango also receives a percentage of payments collected by billing providers whose service is integrated with Bango's. In addition, the company provides services including identity checks and age verification.
'M-commerce' is believed to be the next big boom area as mobile functionality improves and the range of services that can be conducted using mobiles expands.
Shares in companies that supply content via mobiles or facilitate content between suppliers and mobie users, such as Monstermob and DAT Group, have performed strongly in recent months as the sector grows. According to market analysts Juniper Research, the worldwide market will be worth over US$59bn by 2009.
Bango chief executive Ray Anderson said: 'The increasing capacity of mobile phones to entertain large numbers of users is well recognised by content providers worldwide.
'The Aim admission and funding will increase our profile internationally and assist in exploiting our scalable technology platform in new territories.'
Anderson formed the Cambridge-based company in 1999 and now employs 28 staff.
